Creating or starting a business is a huge commitment. It’s not an uncertain path, and often features details you may never have considered. To make sure you have covered all your bases before kicking off your business adventure, Jumia Travel, the leading online travel agency, shares some of the things you must do before starting a business.

Do your research

One of the essential things to do before starting a business is to research the competitive landscape. You do not venture into a business because you have a brilliant idea. If you can’t offer something better or cheaper than your competitors, you may want to re-think starting a business in that area.

Ask yourself why

Every entrepreneur should be able to answer the question, Why are you doing this? It seems like a simple question, but you may be going into it for the wrong reasons. It does not matter if it is for money or for the passion. What is needed is for you to have both and maintain focus. Outside of that, you are probably wasting your time.

Network

Networking helps you get potential partners and investors. You need to attend events where you will need to talk with many entrepreneurs, who have either succeeded or failed. The most helpful advice to learn is the impact of their lifestyle including finances, personal relationships, and health.

Get a mentor

A new business owner should have a mentor. The mentor will offer his advice as well as experience to keep you on track and ensure you do not lose focus.

Survey your target market

Determine and survey a focus group of the target demographic for the service or product you are offering. You must ensure that you are delivering what your customer wants, not what you want.

Seek legal advice

This is another important point entrepreneurs must take note of before officially opening a new business. They should seek legal counsel. Do not make the assumption that legal counsel is only necessary when you get into trouble with the law.


source: http://www.opinions.ng/6-things-starting-business/

cc: lalasticlala mynd44

nice info, am starting mine by January

lies!

when starting a business, never allow your village people to know!!



secondly, other people in the business will want to knock you out, so fortify yourself..

yes, get help from a strong witch (not from your village)


for one month, every midnight by 12am, walk nakeed (not unclad) into a thick forest close to a river carrying a black calabash tied with 7 red ribbons, and place your left hand on your chest shouting out loud:

"lions by my side, eagles above me; enemies of progress, be gone! go! go!"




do this and your business will boom

Nice write-up

Capital...... And plan b nko

Interested in Importation business?Am giving out Free guide A_Z just dm me pls only 5 people

k

Your last point is so on point.

TINALETC3:
nice info, am starting mine by January

Come lemme mentor you.

Really? U no even ask Wats d business like or cn u mentor on any type of business?

PointZerom:



Come lemme mentor you.

TINALETC3:
nice info, am starting mine by January

Which business do you have in mind?

Sambusiness:
Interested in Importation business?Am giving out Free guide A_Z just dm me pls only 5 people

Why only 5 people?.

Nice!

That is the number of people am willing to give it out too

PointZerom:



Why only 5 people?.

[quote author=Sambusiness post=58849412]Interested in Importation business?Am giving out Free guide A_Z just dm me pls only 5 people[/quote
abeg make it 200 people. mbok!

Chidex2442:
Capital...... And plan b nko

I think plan b is also very necessary, but having a plan b most times makes it seem that you think you might fail. But don't get me wrong, having a plan b is very important because a plan b will prevent you from falling totally if the business you re venturing into doesn't work out as planed.

Foods stuffs, only in bags(since I won't b dere 2 manage it, selling in bags wl b easier 4 me to supervise) ,

Arabiandude:

Which business do you have in mind?

guy, u well so?

iMUMUweh:




lies!

when starting a business, never allow your village people to know!!



secondly, other people in the business will want to knock you out, so fortify yourself..

yes, get help from a strong witch (not from your village)


for one month, every midnight by 12am, walk nakeed (not unclad) into a thick forest close to a river carrying a black calabash tied with 7 red ribbons, and place your left hand on your chest shouting out loud:

"lions by my side, eagles above me; enemies of progress, be gone! go! go!"




do this and your business will boom

TINALETC3:
Really? U no even ask Wats d business like or cn u mentor on any type of business?

I won't disappoint you.

TINALETC3:
guy, u well so?

take my advice, thank me later

TINALETC3:
Foods stuffs, only in bags(since I won't b dere 2 manage it, selling in bags wl b easier 4 me to supervise) ,

Where's your preferred location for this?.

Sambusiness:
That is the number of people am willing to give it out too

Na so.

Truly I'm surprised you didn't mention pray to God

And I think that's cool

iMUMUweh:




lies!

when starting a business, never allow your village people to know!!



secondly, other people in the business will want to knock you out, so fortify yourself..

yes, get help from a strong witch (not from your village)


for one month, every midnight by 12am, walk nakeed (not unclad) into a thick forest close to a river carrying a black calabash tied with 7 red ribbons, and place your left hand on your chest shouting out loud:

"lions by my side, eagles above me; enemies of progress, be gone! go! go!"




do this and your business will boom

,guy are u doing this. just to b notice or na ur mumu reach dz level? Coz iv been following ur comments even since

Great Points. Mentorship is quite important apart from capital.

TINALETC3:
Foods stuffs, only in bags(since I won't b dere 2 manage it, selling in bags wl b easier 4 me to supervise) ,

That's nice!
but hope you aren't thinking of buying these bags from cotonou because to the best of my knowledge, bringing these things from cotonou is illegal because most of them come into Nigeria through smuggling because they re contraband?

One of the nicest posting on nairaland thanks

iMUMUweh:




lies!

when starting a business, never allow your village people to know!!



secondly, other people in the business will want to knock you out, so fortify yourself..

yes, get help from a strong witch (not from your village)


for one month, every midnight by 12am, walk nakeed (not unclad) into a thick forest close to a river carrying a black calabash tied with 7 red ribbons, and place your left hand on your chest shouting out loud:

"lions by my side, eagles above me; enemies of progress, be gone! go! go!"




do this and your business will boom

Seun, is this the newest rabies patient on Nairaland or what?

Arabiandude:

I think plan b is also very necessary, but having a plan b most times makes it seem that you think you might fail. But don't get me wrong, having a plan b is very important because a plan b will prevent you from falling totally if the business you re venturing into doesn't work out as planed.

Plan B' is only for those that doesn't know much about the business they're going into. If you pass through apprenticeship, you'll be equipped mentally for the business and what you'll need here is, capital, strategic place for your business, focus and mastering of money. You need to master money and its rules b'cos it has wings and can fly.

Thank you so much.

Nice one. Garrit